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Topic: Apple must pay up to $14.5 billion in back taxes to Ireland (Read 296 times)

BRUSSELS — Apple will have to pay up to 13 billion euros ($14.5 billion) in back taxes, plus interest, to Ireland after the European Union found Tuesday that it received illegal tax benefits over 11 years.

The ruling is the latest — and biggest — salvo in the EU executive Commission’s battle to have multinationals pay their fair share in the region.

EU Competition Commissioner Margrethe Vestager said that a three-year investigation found Ireland granted such lavish tax breaks to Apple that the multinational’s effective corporate tax rate on its European profits dropped from 1 percent in 2003 to a mere 0.0005 percent in 2014.